Lancaster, PA 17603,534 W JAMES ST
Lancaster, PA 17603,534 W JAMES ST
Lancaster, PA 17603,534 W JAMES ST
$1,080,000
Est. payment /mo
$1,650,000
34.5%
Est.Price: ?

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2,614 Sqft Lot
SOLD DATE : 06/18/2024

Key Details

Sold Price $1,080,000

Property Type Commercial

Sub Type Five Or More Units

Listing Status Sold

Purchase Type For Sale

Subdivision College Hill

MLS Listing ID PALA2049324

Sold Date 06/18/24

Originating Board BRIGHT

Year Built 1890

Annual Tax Amount $8,246

Tax Year 2023

Lot Size 2,614 Sqft

Acres 0.06

Lot Dimensions 0.00 x 0.00

Property Description

Prime Investment Opportunity: 11-Unit Property at 534 W. James Street, Lancaster, PA
Discover an exceptional investment opportunity in the heart of Lancaster, PA, with this impressive 11-unit property located at 534 W. James Street. Situated in a vibrant neighborhood close to prestigious institutions such as F&M College and Lancaster Theological Seminary, as well as a plethora of dining, entertainment, and recreational options, this property promises not only lucrative returns but also a desirable location for tenants seeking convenience and culture.
The Location:
Convenience meets culture at 534 W. James Street. Nestled within walking distance to many great restaurants, coffee shops, and brew pubs, tenants will have easy access to Lancaster's culinary and social scene. Moreover, the property's proximity to Buchanan Park offers tenants a serene retreat for outdoor leisure activities. Within a short walk, residents can explore galleries, visit the historic Central Market, or enjoy an evening out at local brew pubs, making this location highly desirable for urban living enthusiasts.
The Property:
Boasting a mix of studio, one-bedroom, and two-bedroom units, this investment property caters to a diverse range of tenants, ensuring high occupancy rates and steady cash flow. Each unit is thoughtfully designed to maximize comfort and functionality.
Safety and Compliance:
Investors can rest assured knowing that the property is fully equipped with sprinkler systems for added safety, meeting the highest standards of fire protection. Additionally, the property is licensed by the City of Lancaster, ensuring compliance with local regulations and providing peace of mind to both owners and tenants alike.
Income Potential:
With its prime location and attractive unit mix, 534 W. James Street presents an exceptional income-generating opportunity for savvy investors. The property's proximity to academic institutions makes it particularly appealing to students and faculty members seeking off-campus housing. Additionally, the bustling neighborhood and array of nearby amenities ensure a steady stream of potential tenants year-round.
Conclusion:
Don't miss out on the chance to add this lucrative investment property to your portfolio. Whether you're a seasoned investor looking to expand your holdings or a first-time investor seeking a promising opportunity, 534 W. James Street offers the perfect combination of location, income potential, and safety.

Location

State PA

County Lancaster

Area Lancaster City (10533)

Zoning R-4

Interior

Hot Water Natural Gas

Heating Baseboard - Electric

Cooling Window Unit(s), Multi Units

Heat Source Electric

Exterior

Utilities Available Cable TV Available, Electric Available, Natural Gas Available, Sewer Available, Water Available

Water Access N

Accessibility None

Garage N

Building

Foundation Stone

Sewer Public Sewer

Water Public

New Construction N

Schools

Elementary Schools Wharton

Middle Schools John F Reynolds

High Schools Mccaskey Campus

School District School District Of Lancaster

Others

Tax ID 339-60666-0-0000

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Bank Portfolio, Exchange

Listing Terms Cash, Bank Portfolio, Exchange

Financing Cash,Bank Portfolio,Exchange

Special Listing Condition Standard

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Bright MLS (BMLS)
Listed by Gilbert B Lyons Jr • RE/MAX Pinnacle
Bought with NON MEMBER • Non Subscribing Office

GET MORE INFORMATION

Matthew Kimmey

+1(443) 966-4683

Broker | License ID: 666615

Broker License ID: 666615

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